BU 665 - Advanced Business Analytics - Case Study

Assignment Task

Introduction

During her upcoming overseas buying trip she will be buying all the imported styles that the 15-store chain will carry during the 2024 Fall season. She is planning to choose 30 different styles of dresses, pants, shirts, skirts, jackets and boots offered by various apparel manufacturers in northern Italy. These choices will be made after viewing what each manufacturer has to offer and considering the overall attractiveness of the collection.

Questions 

1. Explore the data. Build an interesting chart or two. Find relationships that might help predict sales of new designs?

2. Build a model to help predict sales for the first full chain year of test market designs. Is your model valid?

3. Which test items should you adopt? Note that actual demand will be random. What do you think the demand distribution will look like How do you know?

4. That is, build a simulation that simulates random demand for the boots based on your prediction from and also allow for the uncertainty in the cost of lost sales from stock out. Remember to include all relevant revenues and costs. and also allow for the uncertainty in the cost of lost sales from stock out. Remember to include all relevant revenues and costs?

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